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Nigerian oil industry spends $20.4bn on local fabrication, engineering
NCDMB raises Nigerian Content to 42% The Nigerian Oil and Gas Industry spent approximately $20.4billion between 2016 and 2020, particularly in key areas such as Engineering, Procurement, Fabrication, Project Management, and Services. Executive Secretary, Nigerian Content Development and Monitoring Board…
Investors declare Nigerian Content Policy successful
NNPC Limited to domesticate 80% of transactions Sopuruchi Onwuka Players across the streams in the Nigerian petroleum industry have declared the local content policy in the country very successful despite visible disputes that have clogged its smooth implementation in the…
JP Morgan sees oil hitting $125 in 2022
Crude oil could soar to $125 per barrel next year and $150 in 2023 due to OPEC’s limited capacity to boost production, JP Morgan analysts said in a new report. “OPEC+ is not immune to the impacts of underinvestment…. We…
PIA: IOCs plan $60 bn FID on 6 deepwater projects
Sopuruchi Onwuka International oil companies that hold substantial reserves in the Nigerian deepwater basin will ink landmark final investment decisions (FIDs) on six offshore oil and gas developments by next year, ending over 12 years of activity lull in the…
Deregulation: Stakeholders demand local refining, energy diversification
Sopuruchi Onwuka Thought leaders in the Nigerian petroleum industry hold strongly that the prevailing debate on the best ways to shape the local fuel market under the new Petroleum Industry Act is to totally domesticate production and liberalize the market….
Chevron, partners deliver 72 projects for the Itsekiri
Sopuruchi Onwuka The Itsekiri Oil and Gas Producing /Impacted Communities Development Committee (IPCDC), popularly known as IRDC, has completed and commissioned 72 projects worth over one billion Naira. The projects which were executed under the auspices of the Global Memorandum…
All On in million dollar deal with Salpha Energy Limited
Sopuruchi Onwuka Impact investment company, All On, has said it has entered $1.0 million investment deal with Salpha Energy Nigeria to scale the company’s solar home systems distribution business. All On is funded by oil firm, Shell; and its solar…
Seplat offers processing capacity for gas flare monetization
Diversifies into renewables Sopuruchi Onwuka Prominent indigenous energy company, Seplat Energy Plc, has thrown open processing services at its natural gas plants for players seeking opportunities in the domestic market. Managing Director, Mr Roger Brown, stated that the company’s huge…
Energy transition is late, behind demand surge ___Avuru
Sopuruchi Onwuka Eminent geologist and petroleum industry investor, Mr Austin Avuru, is not in any panic about the prevailing global indignation against the industry. Instead he is calling on investors to muster funds for investments in meeting rapidly growing demand….
NCDMB challenges African nations on energy financing
Sopuruchi Onwuka Implementation agency for the Nigerian local content policy, the Nigerian Content Development and Monitoring Board (NCDMB) has called on African nations to create a pool of funds for financing petroleum projects in order to guarantee energy security for…
